Person-to-Person (P2P) Transfer

 

Express Transfer

Express Transfer is used to send or request funds to or from an individual using the person’s email address or mobile telephone number anywhere within the United States. 

  • Person-to-Person (P2P) is used when sending or requesting funds to or from a non-JSC FCU account holder.
    • Good to know
      • Frequency: one-time transfer
      • Waiting Period: There is a 30 day waiting period for all new members. 
      • Processing Time: If it the first time using this service, the members will need to be approved for this service. It can take up to 2 business days for approval.  
      • Fee: $2.00 per transfer
      • The person the member is sending the funds to or requesting funds will be required to enter their account information 
      • Routing / ABA Number: 313083992
  • • Click here to get started

     

        • You will need to  have access to eBanking
        • You can request for this service by logging into eBanking. Select the Transfer/Loan Payment Tab then Express Transfers – External Accounts and People. It can take up to two business days for this service to be approved.
        • An email will be sent to the email we have on file once your request has been approved.
        • How to add a contact:
          • Select the Transfer/Loan Payment Tab then Express Transfers – External Accounts and People
          • Select Accounts/Contacts
          • Select Add Contact
          • Enter the person’s name and email or cell number
          • Select Next
          • Verify the information is correct then click on Confirm
          • A window confirmation will pop up
          • Select Add Another Contact if you would like to add another person or select Done
        • How to send or request funds (can be completed once a contact is added)
          • Select the Transfer/Loan Payment Tab then Express Transfers – External Accounts and People
          • Select Move Money
          • Select what internal JSC FCU account you want to transfer out of or transfer into
          • Select the individual under contacts
          • Type in the amount for the transfers
          • Add a message 
          • Select Next
          • A pop-up box to authorize payment will populate. Please make sure to read this completely and then select Authorize.
          • Select Move More Money if you would like to complete another transfer request or select Done
          • The contact will either receive an email or text with a link to fill in the account information. If the contact does not respond to the payment notification after three days, a reminder text or email message is sent. If the payment request is not accepted on fifth day, a final reminder is sent.

     

       

      FAQs

      How do ACH transactions process?

      All transfers are processed via the Federal Reserve's Automated Clearing House (ACH) Network. This network is used by financial institutions to process checks and electronic transactions. JSC FCU submits Express Transfers requests to the ACH network to initiate funds transfers between the accounts you specify. 

      What accounts can I use with this service?

      Any checking or savings account may be set up with the service.

      How do I set up an external account with the service?

      While on the Express Transfers page, click 'Accounts/Contacts' then click Add Account Enter the account number, select the account type, and enter your name as it appears on the account you are setting up with the service (for joint accounts, enter the primary account holder's name).

      To ensure that you are the owner of the account, the service makes a small trial deposit within 2 business days and then a trial withdrawal from the account by the next business day. The withdrawal is less than a dollar and it is never larger than the deposit. Once you know the amounts of the trial transactions, locate the account in the 'Accounts' list and click 'Activate'. You will be asked to enter the amounts of both trial transactions. If both values are correct, the account is activated.

      What should I do if I want to cancel a funds transfer request?

      To cancel a transfer, on the Express Transfers page, click the "Cancel" option in the Recent Transfers list. Once you initiate a transfer, there is a limited amount of time in which you may be able to cancel the transfer. Transfers are processed continually throughout the day. You can cancel your request when it is in Pending status, before it reaches 'In Progress' status. Once your funds transfer request has been transmitted to the ACH network, you cannot cancel the transaction. Your best option is to request a second transfer between the same two accounts, sending the funds back to their point of origin (and in effect reversing your original transfer).

      What should I do if i want to make a change to a recurring transfer?

      A recurring transfer cannot be edited. You must delete the recurring transfer and set up a new transfer.

      How long does it take to complete a funds request transfer?

      It usually takes three business days, but it may take as long as five business days. The specifics will depend, in part, on the time of day you initiated the transfer, your previous transfer history with the service, the amount of the transfer, and how quickly your financial institution updates your account after they receive the funds. Full details regarding your funds transfer requests are viewable on the Express Transfer transaction history page.

      Standard: 3 – 5 business days to complete the service
        • Day 0: The transfer is accepted. A withdrawal transaction is initiated and sent to the ACH Network.
        • Day 1: A withdrawal transaction is posted on the source account.
        • Day 2: A standard hold of two business days is placed to ensure the funds' availability.
        • Day 3: The funds are sent to the destination account and they will be made available at opening of the next business day

      Please note that a poor transaction history or no transaction history with the service, may result in an additional one-day hold on transfers, resulting in a total of four business days to complete the service.

      Express: 1 – 2 business days to complete the service
        • Day 0: The transfer is accepted. A withdrawal transaction is initiated and sent to the ACH Network.
        • Day 1: A withdrawal transaction is posted on the source account. Funds are sent to the destination account. Funds will be made available the next business day.
      Why would a transfer be unsuccessful?

      A transfer funds request will be rejected if it cannot successfully be posted to your account. The most common reasons for failed or returned transfers are below:

      • Transaction amount exceeds the dollar limit for an individual transaction or total transactions per day, week, or month.
      • Lack of sufficient funds in the source account.
      • Lock placed by a financial institution on one of the accounts. A few reasons an account might be locked are as follows:
        • the account number or routing number may have changed since registration
        • the account may be frozen by the financial institution
        • the account may have reached allowed limits of the number of such transactions

      You will be notified by email if a failed ACH "Return" message is received on your transaction. The Return message indicates that the transfer has not been completed. Full details related to the failed transfer are available on the History section of Express Transfers.

      What do the different status designations mean? 

      Pending: Your request has been received and the system is preparing to initiate the debit (withdrawal) transaction upon acceptance of the (send/receive) payment request.

      In Progress: The payment is in progress. You can see more details on the status of the payment by clicking the reference number in the Transfers & Payments list on the History page. 

      Completed: The funds have been sent to the designated account. At this time, the transaction will be reflected in both (source and destination) accounts. Please check your online banking system or contact your financial institution to verify the availability of the funds. 

      Cancelled: Your request to cancel the payment has been received. At this time, no further actions will be taken on the payment request.

      Failed: The transfer could not be completed. More details on why the payment failed can be obtained by clicking the reference number in the Transfers & Payments on the History page. Typical causes of failed or returned payments are below.

      • Lack of sufficient funds in the source account
      • Recipient did not accept payment or request for payment within the seven-day limit
      • Source or destination account is closed or frozen
      • Changes occurred, leading to an incorrect account number or bank ABA routing number

      Occasionally, a return from the ACH system is received, indicating a problem with the transaction after the normal waiting period of two business days. Upon receipt of such error, the transfer is marked as "Completed" and the status changes to Failed.  

      What are P2P payments?

                  P2P, or Person-to-Person, transfer service is an innovative way of sending or receiving money via email or text message. This service offers you the ability to request payments from anyone, or make fast convenient payments anytime, anywhere using your preexisting checking or savings account.

      Why do I have limits on my payments?

      Limits are put in place for your protection. There are limits on the amount of money that can be transferred and the frequency of payments over a certain amount of time.

      Why am I asked to enter a message to the contact?

      The message is an opportunity for you to tell the contact the reason for sending/requesting funds. It is helpful in creating the confidence that the money is coming from or going to someone familiar.

       

       

      *This feature is available within the U.S. For more information on JSC Federal Credit Union, or to find out how you can join, please call 281.488.7070 or 800.940.0708, or visit any branch office  or e-mail.

JoomShaper

Locate a Surcharge Free ATM or Shared Branch

eBanking Login